Motor Industry News
My Car Check Trade used LCV market overview June 2015: some stock but little variety and slim margins on retail sales
My Car Check Trade is the trade valuations arm of CDL Vehicle Information Services. Based on cutting-edge industry data and feedback from independent and franchised dealers, these monthly bulletins highlight the most significant trends in the UK light commercial vehicle (LCV) market.
My Car Check Trade’s LCV expert, David Hill, commented: “June is traditionally a quieter month as we start the slow down into the summer holidays. The trade, as always, will be looking for the elusive bargains that appear should we get a finance house wanting to exchange metal for cash. This kind of bonanza is less likely these days as the big players have all got wise to the particular peaks and troughs of the LCV market.
“We are getting some stock through, but very little variety. Anything different will attract plenty of interest. Given the prices being paid at auction, there must be practically zero profit on many retail sales. Dealers are now telling us they’ve got all the stock they need, so they’ve got very short shopping lists.
“In terms of small vans, there’s Ford Fiesta and Vauxhall Corsa in the market. We have seen a few Peugeot 206 vans for sale, but they didn’t get the same interest as the afore-mentioned. We have new model Vauxhall Combos starting to come into the market – early ones can be as expensive as the old model. There are plenty of Fiat Doblos around and prices are suffering slightly as they’re all the same year and mileage, so the trade can afford to pick and choose. Conversely, volume has dropped on Volkswagen Caddy, easing the pressure on values, but think carefully before buying the lower horsepower ones.
“Renault Kangoo Maxi models are generally good news, but standard vans are plentiful so values need to be watched. We’ve also seen some electric vans (EV) in open market. The Nissan ENV-200 performed better than any of the others as they come complete with batteries. Fiat Scudo and its sister models are still good news, with even the older models getting plenty of interest. Nissan NV 200 is now a common sight and has a following.
“In the panel van sector, Ford Transit Custom is now about in small pockets of volume. The price of a new model has dented the value of some later variants in the used market, usually the lower specification models. Trend and Limited models are still the most sought after, with air con an essential option for some buyers.
“The larger panel van sector is one area where we have a shortage of good retail stock. As a result, any long wheelbase van in good condition with sensible miles will be highly desirable.
“In terms of chassis cab derivatives, it is often a case of ‘any badge will do’. Renault Master low floor Lutons are currently making all the money. Tipper models have to have tidy bodywork and seats if they’re a crew cab. Long wheelbase drop-sides aren’t as mileage sensitive as long as they’re in OK condition.
“The four wheel drive market is fairly safe and steady at the moment. A large influx of Toyota Hilux has been absorbed. The Toyota dealer network will come out to auction to buy and this helps keep values stable and the stock desirable.”